11-20 kW Segment to Dominate Europe Small ICE Market during 2019–2027

According to a new market research study on “Europe Small ICE Market to 2027 – COVID-19 Impact and Regional Analysis and Forecast by Fuel Type, Cylinders, Power Output Range and End User,” is expected to reach US$ 1444.84 million by 2027 from US$ 933.33 million in 2020. The market is estimated to grow at a CAGR of 6.4% from 2020 to 2027. The report provides trends prevailing in the Europe small ice market along with the drivers and restraints pertaining to the market growth. Boom in Adoption of Small Off-Road Internal Combustion Engines are the major factor driving the growth of the Europe small ice market. However, issues associated with the Increment Toward Electric Energy over Fossil Fuels hinder the growth of Europe Small Internal Combustion Engine (ICE) Market

Owing to the pandemic, the European manufacturing and transportation industry has witnessed an abrupt downturn in several major countries. The manufacturing and transportation industry in Europe suffered one of the biggest drops in activities after the factories were closed. The supply of safety equipment and workers was disrupted due to the pandemic. The drop in the region's manufacturing and transportation activities has directly affected the sales of the Small ICE in Europe. Due to the decline in manufacturing and transportation, the Small ICE market will witness an abrupt downturn in 2020. Further, countries in the region, including Germany, UK, France, and Belgium, have witnessed a second wave of the virus and have announced lockdown for the second time in November 2020. The situation amid the COVID-19 pandemic is extraordinary, which is anticipated to hamper the market's growth. Also, demand for small ICE from certain countries, such as Germany and the Netherlands, was positive during the first half of 2020, owing to re-opening of manufacturing activities. Furthermore, the Danish market also noticed positive demand in Q3, 2020. Additionally, demand in the Czech Republic declined due to a slowdown in manufacturing and transportation activities and the UK due to government restrictions on several industries' operations. Overall, the demand for small ICE in the region is expected to be driven by expanding the approved Pan-European grid.

The Europe small ice market is segmented based on fuel type, cylinders, power output, end-use industry, and country. Based on fuel type, the market is segmented into gasoline, diesel, and Gas. The gasoline segment is further sub segmented into compressed natural gas (CNG), liquefied petroleum gas (LPG), and liquefied natural gas (LNG). In terms of cylinders, the market is segmented into 1, 2, 3, and 4. Based on power output, the market is segmented into 1–5 kW, 6–10 kW, and 11–20 kW. In terms of end-use industry, the market is segmented into power generation, manufacturing, oil and gas, transportation, and others.

Caterpillar Inc., Kawasaki Heavy Industries, Ltd., MITSUBISHI HEAVY INDUSTRIES, LTD, Liebherr, YANMAR HOLDINGS CO., LTD., Cummins, Inc, INNIO, Wärtsilä Corporation, Rolls-Royce Holdings plc are among the leading companies in Europe small ice market ,The companies are focused on adopting organic growth strategies such as product launches and expansions to sustain their position in the dynamic market. For instance, in 2020, INNIO announces that the acquisition of ECI-Distribution GmbH and PowerUp GmbH, announced on November 4, 2020, has been completed effective December 1, 2020. The energy technology company ECI-Distribution GmbH, which was acquired by INNIO, covers numerous parts of the gas engine value chain. They produce state-of-the-art components for reducing emissions and increasing the efficiency of gas engines. Founded in 2014, the company also has a worldwide distribution network.

The report segments the Europe Small ICE Market as follows:

Small ICE Market – By Fuel Type

• Gasoline
• Diesel
• Gas

Small ICE Market – By Gas Type

• CNG
• LPG
• LNG

Small ICE Market – By Cylinder

• 1
• 2
• 3
• 4

Small ICE Market – By Power Output

• 1-5 kW
•  6-10 kW
• 11-20 kW

Small ICE Market – By End-Use Industry

• Power Generation
• Manufacturing
• Oil and Gas
• Transportation
• Others

Small ICE Market – By Country

• Germany
• France
• Italy
• United Kingdom
• Russia
• Rest of Europe